Which Citi balance transfer card should I get?
鈥淰erified by an expert鈥 means that this article has been thoroughly reviewed and evaluated for accuracy.
鈥淰erified by an expert鈥 means that this article has been thoroughly reviewed and evaluated for accuracy.
BLUEPRINT
Updated 7:28 p.m. UTC April 22, 2024
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Citi庐 boasts some of the most generous balance transfer deals available. Balance transfer cards allow you to pay down debt faster by allowing more of your payments to go toward reducing your balance instead of being siphoned away towards also paying off interest.
Citi offers five balance transfer cards with long promotional periods. Let鈥檚 find which Citi balance transfer card is right for you.
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Citi Double Cash庐 Card
What are the Citi balance transfer credit cards?
While Citi offers a wide selection of credit cards, five are specifically designed for balance transfers:
- Citi庐 Diamond Preferred庐 Card
- Citi Double Cash庐 Card
- Citi Custom Cash庐 Card
- Citi Rewards+庐 Card * The information for the Citi Rewards+庐 Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.
- Citi Simplicity庐 Card * The information for the Citi Simplicity庐 Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.
Each card offers a break on interest for balance transfers for a period of time.
How does a Citi balance transfer work?
A balance transfer card allows you to move high-interest debt from another issuer to a credit card offering a low or no interest rate for a specific period of time. The benefit of doing a balance transfer is that you鈥檒l be able to pay down your debt faster, as no interest (or less interest) is added to the balance during the promotional period. Once the promotional period expires, any balance remaining will be subject to the card鈥檚 ongoing APR.
What happens to the old card after a balance transfer? 贬别谤别鈥檚 what to know about that account.
There are two ways to transfer a balance to a Citi card. The best way is to apply for a new Citi balance transfer card, as you鈥檒l likely get the best terms this way. However, you can also check to see if one of your existing Citi cards is offering a balance transfer deal, but those promotions may not be as generous as those found on a new card.
For example, you may not get a 0% intro APR promotion or as long of a term on the interest-free period.
Some of Citi鈥檚 balance transfer cards have a time limit for taking advantage of the offer. For example, the Citi Double Cash Card鈥檚 offer states 0% intro APR on balance transfers for 18 months. After that, the standard variable APR will be 19.24% to 29.24%. An intro balance transfer fee of either $5 or 3%, whichever is greater, applies to transfers completed in the first 4 months. After that, the fee will be 5% of each transfer (minimum $5).
Wondering exactly how to do a balance transfer? 贬别谤别鈥檚 a step-by-step guide.
Factors to consider when choosing a Citi balance transfer card
When deciding which Citi balance transfer card to apply for, you鈥檒l need to weigh each card鈥檚 terms, balance transfer fees and credit score requirements as well as any rewards program. Here we break down the highlights of each of Citi鈥檚 balance transfer cards:
Citi Diamond Preferred
- Intro balance transfer APR: 0% intro APR for 21 months on balance transfers.
- Ongoing balance transfer APR: 18.24% - 28.99% (Variable).
- Intro balance transfer fee: N/A.
- Balance transfer fee: 5% of each balance transfer; $5 minimum.
- Annual fee: $0.
- Credit score requirements: Good to excellent.
- Rewards and benefits: No rewards, free FICO Score, Citi Entertainment Access.
Citi Double Cash
- Intro balance transfer APR: 0% intro for 18 months on Balance Transfers.
- Ongoing balance transfer APR: 19.24% - 29.24% (Variable).
- Intro balance transfer fee: 3% of each balance transfer; $5 minimum within the first 4 months of account opening.
- Ongoing balance transfer fee: 5% of each transfer ($5 minimum) applies if completed after 4 months of account opening.
- Annual fee: $0.
- Credit score requirements: Fair to excellent.
- Rewards and benefits: 2% cash back on purchases 鈥 1% when purchases are made and another 1% when they鈥檙e paid off, plus, for a limited time, 5% total cash back on hotel, car rentals and attractions booked on the Citi Travel鈩 portal through 12/31/24.
Citi Custom Cash
- Intro balance transfer APR: 0% for 15 months on balance transfers.
- Ongoing balance transfer APR: 19.24% - 29.24% (Variable).
- Intro balance transfer fee: N/A.
- Ongoing balance transfer fee: 5% of each balance transfer; $5 minimum.
- Annual fee: $0.
- Credit score requirements: Fair to excellent.
- Rewards and benefits: 5% cash back on purchases in a top eligible spend category each billing cycle, up to the first $500 spent each month and 1% cash back on all other purchases. Plus, an additional 4% cash back on hotels, car rentals, and attractions booked on the Citi Travel鈩 portal through 6/30/25. Citi Entertainment Access, free FICO Score.
Citi Rewards+ Card
- Intro balance transfer APR: 0% intro for 15 months on Balance Transfers.
- Ongoing balance transfer APR: 18.74% - 28.74% (Variable).
- Intro balance transfer fee: 3% of each balance transfer; $5 minimum within the first 4 months of account opening.
- Ongoing balance transfer fee: 5% of each balance transfer; $5 minimum after 4 months of account opening.
- Annual fee: $0.
- Credit score requirements: Good to excellent.
- Rewards and benefits: 2 ThankYou points per $1 at supermarkets and gas stations for the first $6,000 spent per year and 1 ThankYou point per $1 on all other purchases, plus earn a total of 5 ThankYou points per $1 on hotel, car rentals, and attractions booked on CitiTravel.com through December 31, 2025. Citi Entertainment access.
Citi Simplicity
- Intro balance transfer APR: 0% intro APR for 21 months on balance transfers from date of first transfer.
- Ongoing balance transfer APR: 19.24% - 29.24% (Variable).
- Intro balance transfer fee: 3% of each balance transfer; $5 minimum within the first 4 months of account opening.
- Ongoing balance transfer fee: 5% of each balance transfer; $5 minimum after 4 months of account opening.
- Annual fee: $0.
- Credit score requirements: Good to excellent.
- Rewards and benefits: None.
How to do a balance transfer with Citi
When you apply for a new Citi balance transfer card, you should be able to provide the account number, issuer name and amount of debt from the card you want to transfer on the application form. If approved, Citi will initiate payment on your old account and move that balance to your new Citi card, plus the balance transfer fee (which can range from 3% to 5% of the amount transferred).
It鈥檚 important to keep making payments on the old card until the balance is zero or until it is paid off with the Citi balance transfer card. It may take two to three weeks for any transfers to be completed.
Also, the amount of the transfer (plus the balance transfer fee) cannot exceed your new card鈥檚 credit limit. Unfortunately, you won’t know what your new card鈥檚 credit limit is until you are approved. You can choose to wait for card approval first and then initiate the balance transfer based on your new credit limit by logging into your account and clicking on 鈥渢ransfers鈥 or 鈥渂alance transfers鈥 or by calling the number on the back of your card.
Be aware that like with most issuers, you won鈥檛 be allowed to transfer a balance from one Citi card to another.
How to save money with Citi balance transfer credit cards
The whole purpose behind doing a balance transfer is to save money on interest during the promotional period to help you pay down your debt faster. Here are some helpful tips to maximize your savings:
- Don鈥檛 use your balance transfer card for any new purchases, which will inflate what you owe, until the transferred balance is paid off.
- Create a repayment plan to reduce your transferred balance as much as possible during the introductory APR period.
- Continue to pay at least the minimum payment on the old account(s) from which you transferred a balance until it is paid off.
- Pay attention to any time limitations in which to initiate a balance transfer.
- The devil is in the details. The Citi Simplicity and the Citi Diamond Preferred both offer similar balance transfer introductory periods, but the Citi Simplicity has an introductory balance transfer fee and the Diamond Preferred does not. Familiarize yourself with each card’s terms before you apply to determine which offers more savings.
How to apply for a Citi balance card
Once you review all the terms of each Citi balance transfer card and decide which balance transfer card would be the best fit for you, you can complete the application online. You鈥檒l need to provide the following information:
- Name
- Social Security number
- Date of birth
- Address, phone and email
- U.S. citizenship
- Income
Then you鈥檒l hit the 鈥渁gree and submit鈥 button. If approved, you can call the number on the back of your new card (once it arrives in the mail) to initiate a balance transfer, or you may be given the opportunity to fill in the balance transfer information on the application.
Once the transfer is completed, your new credit limit will be reduced by the transferred amount plus the balance transfer fee.
Again, it may take up to 21 days for any balance transfer payments to be processed, so keep making payments on the old account until your balance is paid off.
Frequently asked questions (FAQs)
The best Citi card for balance transfers is the Citi Simplicity Card as it offers the longest intro balance transfer APR period of 21 months on balance transfers completed within the first four months of account opening and offers an intro balance transfer fee of 3% of each balance transfer; $5 minimum within the first 4 months of account opening, then 5% of each balance transfer; $5 minimum after 4 months of account opening.
Yes, all of the Citi balance transfer cards charge either a 3% or 5% balance transfer fee for each transfer. The lower range is typically an intro rate and only applies to balance transfer completed within the first four months of account opening. The higher rate typically applies thereafter.
The Citi Custom Cash Cash or the Citi Double Cash may be easier to qualify for since they are available for consumers with fair to excellent credit (580 to 850 FICO Score)*. Other Citi balance transfer cards are only available for those with good to excellent credit (670 to 850)*.
Yes, Citi balance transfer cards offer some of the longest 0% intro APRs on balance transfers on the market, giving you almost up to two years to save on interest charges while you pay down your debt.
No, none of the Citi balance transfer cards charge an annual fee.
All of Citi鈥檚 balance transfer cards, except for the Citi Custom Cash and Citi Double Cash, require good to excellent credit scores for approval (670 to 850)*.
*Blueprint credit ranges are derived from FICO庐 Score 8, which is one of many different types of credit scores. If you apply for a credit card, the lender may use a different credit score when considering your application for credit.
*The information for the Citi Rewards+庐 Card and Citi Simplicity庐 Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.
Blueprint is an independent publisher and comparison service, not an investment advisor. The information provided is for educational purposes only and we encourage you to seek personalized advice from qualified professionals regarding specific financial decisions. Past performance is not indicative of future results.
Blueprint has an advertiser disclosure policy. The opinions, analyses, reviews or recommendations expressed in this article are those of the Blueprint editorial staff alone. Blueprint adheres to strict editorial integrity standards. The information is accurate as of the publish date, but always check the provider鈥檚 website for the most current information.
